Mathematics of Economics and Business

Abstract

Today, a firm understanding of mathematics is essential for any serious student of economics. Students of economics need nowadays several important mathematical tools. These include calculus for functions of one or several variables as well as a basic understanding of optimization with and without constraints, e.g. linear programming plays an important role in optimizing production programs. Linear algebra is used in economic theory and econometrics. Students in other areas of economics can benefit for instance from some knowledge about differential and difference equations or mathematical problems arising in finance. The more complex economics becomes, the more deep mathematics is required and used. Today economists consider mathematics as the most important tool of economics and business. This book is not a book on mathematical economics, but a book on higher-level mathematics for economists.